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Article: SATYAM, MAYTAS SCRIPS TAKE A BEATING (SECOND LEAD)

Article from:
The Hindustan Times
Article date:
December 17, 2008
Copyright

Report from Indo-Asian News Service brought to you by HT Syndication.

Mumbai, Dec. 17 -- (IANS) Over 30 million shares of Satyam Computers changed hands Wednesday with the stock taking a pounding on the Indian bourses after the company's failed bid to acquire Maytas Infra and Maytas Properties, infrastructure companies promoted by family members of Satyam chairman B. Ramalinga Raju.

Satyam was the biggest loser on the Sensex shedding over 30 percent or Rs.68.45 to close at Rs.158.05.

The Maytas scrip, which was trading above the Rs.500-level since last week, fell 20 percent Wednesday to close at Rs.388.25.

"Promoters showing such disregard for ethics and corporate governance could tarnish ...

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